Meanwhile, in South Africa, FNB reported that, by 2pm on Black Friday, the total number of transactions processed through its Merchant Acquiring Systems – in other words credit card payments through its merchant customers – were up a third over last year’s Black Friday at the same time. 7.4 million compared to 5.6 million in 2018.
It said transactions processed through the bank’s Merchant Acquiring Systems peaked at an average of 306 transactions per second (TPS).
“While transactional volumes will normalise later in the day, last minute shopping may lead to intermittent spikes in volumes until retailers close their doors,” said CEO of FNB Merchant Services, Thokozani Dlamini. “Online merchants have the luxury of opening until midnight while traditional retailers may consider opening for longer than usual to accommodate the after-hours rush.”
Online merchants like Takealot, Zando and the eBucks Shop were among the top online retailers where FNB customers bought discounted goods and services.
Cilliers Kriel, CEO of FNB Credit Card, said: “Overall, we expect card present transactions to make up the majority of card spend by close of business, however there’s a firm indication that South Africa’s consumers are growing accustomed to shopping online. As the day draws to a close, we encourage customers to shop wisely by sticking to their budgets to accommodate the longer festive season period.”
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